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to be speaking for this bill but i can't. >> reporter: 151 republicans including eric cantor the number two ranging house member voted against the bill because it doesn't address spending. >> what we're really doing is raising taxes to give the president more money to spend. >> reporter: president obama has promised to work with congress to find more spending cuts in the future. but he urged them not to play politics with the nation's debt limit. >> i will not have another debate with this congress over whether or not they should pay the bills that they have already racked up. >> reporter: treasury secretary timothy geithner has warned congress the country is just a few months away from defaulting on its loans for the first time in u.s. history. >> the consequences for the entire global economy would be catastrophic, far worse than the impact of a "fiscal cliff." >> reporter: but many republican congressmen say the debt limit debate is the last chance for them to secure the deep spending cuts necessary to pay down our nation's debt. tara mergener for cbs news, washington. >>> after his addr
, including eric cantor, the number 2 ranking house member, voted against the bill because it doesn't address spending. >> what we're really doing is raising taxes to give the president more money to spend. >> reporter: president obama has promised to work with congress to find more spending cuts in the future. but he urge them not to play politics with the debt limit. >> i will not have another debate with this congress over whether or not they should pay the bills that they have already racked up. >> reporter: treasury secretary timothy geithner has warned congress the country is just a few months away from defaulting on its loans for the first time in u.s. history. >> the consequences for the entire global economy would be catastrophic, far worse than the impact of a "fiscal cliff." >> reporter: but many republican congressmen say the debt limit debate is the last chance for them to secure the deep spending cuts necessary to pay down our nation's debt. the bill now goes to president obama for signature. back to you. >> thank you. >>> our other big story the weather this morning. it could b
eric cantor the number 2 ranking house member voted against the bill because it didn't address spending. >> what we're doing is raising taxes to give the president more money to spend. >> reporter: president obama has promised to work with congress to find more spending cuts in the future. but he urged them not to play politics with the nation's debt limit. >> i will not have another debate with this congress other than over whether they should pay the bills they have already racked up. >> reporter: the country is just a few months away from defaulting on their loans for the first too many in history. >> it would be catastrophic, far worse than the "fiscal cliff." >> reporter: many republican congressmen say the debt limit debate is the last chance for them to secure the deep spending cuts necessary to pay down our nation's debt. tara mergener for cbs news, washington. >>> after his address, president obama returned to hawaii to finish his vacation and will sign the bill there. >>> most overseas stock markets rose on news of the u.s. "fiscal cliff" has been averted. the kospi stock exch
is majority leader is eric cantor. cantor voted against this deal last night. a spokesman told us the virginia congressman was not happy with the bill that passed the senate and spent all day yesterday trying to find an alternative but he couldn't. he said he is still proud of the speaker and other republicans who vote to do avoid what he called the largest tax hike in u.s. history. >>> the debate is far from over as law americas turn their focus to the debt ceiling and spending cuts. for that we take a look at who is talking. >> charles krauthammer talking his analysis how he thinks those negotiations will unfold. >> i expecting it will end up with a patch with the view of our fiscal problems another failure as tonight. the reason is you have two ems in this the president and the republican house which will be on more equal strength they will work out another useless extension and they will have to fight again. and the reason i say that is that everybody spoke about tax reform after the election entitlement reform after the election. we see a president now who is not interested in either. tax
that's a bad idea. >> reporter: even eric cantor, the second-highest ranking republican in the house, was opposed to the deal struck by his colleagues in the senate. >> i do not support the bill. >> reporter: but others said, like it or not, the bill was the only way to prevent a big tax increase for virtually every american worker. >> republicans and the american people are getting something really important, permanent tax relief. >> reporter: the bill will prevent an income tax relief on workers earning under $400,000 a year. it also will extend unemploym t unemployments for people looking for work. but the bill leaves a lot left to do. in two months, the government will hit the limit of how much money it can borrow, unless congress raises the so-called debt ceiling. an automatic, across-the-board spending cuts to the pentagon and other agencies, are only to be delayed for two months, setting up yet another fiscal cliff on march 1st. congress has adjourned. the president is off to hawaii to meet up with his family. and hopefully, he thinks for a few days' vacation. >> you mentione
it and send it back is what eric cantor and others wanted. the problem with sending it back is there would be no one to send it to. the senate left the building. the house would have gone back and said we're going to keep our apbldz in. what speaker boehner did is join the minority of republicans. he voted, so 85 republicans said yes, but 172 said no. essentially they violated their own unwritten hastert rule and used the majority of democrats to pass this bill. longtime conservatives see it as a rau for the president. >>steve: even in the leadership of the republican party you've got john boehner and paul ryan voting for it. then you've got eric cantor, the majority whip, voting against it. at the core, all the republicans had to hold their nose because they do not as a party like the idea of taxes going up on anybody. now the way it stands is if you are very successful and you make at least $400,000 a year, your taxes are going to go up to about 40%. for everybody watching this program now, your payroll taxes are going up. last year it was about 4.2% exactly, and starting this morning it
eric cantor was with him all along, still is, and they're pointing the finger of blame at speaker john boehner, openly encouraging the idea that there's a rift between the two. >> there's a squabble, obviously, between speaker boehner and leader cantor, they voted separately on the fiscal cliff. since cantor had taken a lead role here some have speculated that boehner wasn't as friendly to it as he might have otherwise been. >> reporter: cantor's office tells me that the two are in communication and that cantor support the speaker boehner. the two are scheduled to meet with the new york and new jersey delegations to discuss sandy aid in less than an hour, megyn. >> megyn: shannon, thank you. >> we're going to hit every single recommendation that's been put forward. some individuals have been held accountable inside of the state department and what i've said is that we are going to fix this to make sure that this does not happen again. because these are folks that i send into the field. we understand that there are dangers involved, but you know, when he read the report and it confirms
Search Results 0 to 6 of about 7

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